However, their 38 page Prop Mgmt Agreement for OneRate is daunting--it lists many exclusions to their obligations such as any damage caused by force to a surface (whether from tenants, animals, roots, wind or other force of nature, etc).

@Diaz Principe Nicolas I use Pricelabs to set general pricing parameters, build in a discount during the slow season, then tweak it occasionally according to the specific area.

Hey Justin, You sound like a prime candidate to take advantage of section 121121 qualifiers Must live in the home in the past 2 of the 5 years 24 months non consecutive required Must have owned the home for at least 2 years Only one spouse needs to meet the ownership testBoth spouses need to meet the use test Neither spouse has excluded a gain / used section 121 in the past two years Must file jointly for the 500k exclusion

I would love any and all feedback on the topics and frequency of these messages. 1 Week from check-in:- Thank you again, welcome- Ask about reason for visit- Directions- Attractions in the area- Any specifics about checking in our finding their property (apartment type single family structure can get confusing for first timer which suite)- Parking Instructions- Ask for any questions we can answer ahead of time- Provide contact number if need direct contact1-2 Days Out:- X number of day reminder, excited they are joining- Ask for follow up questions- Video instructions on how to find their suite/apartment (link to video player)- Check In instructions- Wifi instructions- Parking Instruction reminder- Google Map and Apple Map links for their phone GPS- Contact number reminder for their stayEvening of Check-In- Ensure they're settling in- Confirm we want them to have a 5* experience- Contact number reminderMorning of Check-Out- Thank them for staying- Ask for feedback on how to improve amenities onsite- Check-Out Time- Check-Out Instruction2 Days after Check-Out- Thank You for staying- Ask for rating on booking platform- Offer Loyalty discount for return stay- Ask for Referral

It has to be hard to get a home-owner to sell to you at a discounted price when everyone and everything is telling them that their junk house is now worth 2-3x what it was in 2019.

It's better to find a tenant for a discount than to let it sit empty.We also aim to complete turnovers within one week of the tenant vacating.

Assumptions:Credit 720Single Family Investment PropertyProperty Value: $120kAmount financed: $90k or 75% LTVNO Pre-Payment Penalty (not allowed in Ohio)DSCR Ratio 1.25+30 YR Fixed Rate DSCR:8.250% with $2475 in discount points.

Most also fail to understand the exclusions within an insurance policy. 

The Mello Roos are something to look out for but I will say that the neighborhoods with Mello Roos are generally nicer than those without, so I wouldn't discount them just because of it.

The irony is most investors who form LLC's do not operate them correctly, fail to obtain appropriate types or amounts of insurance coverage, fail to understand their coverage exclusions, take short cuts and don't obtain permits, use unlicensed and uninsured vendors,  fail to execute contracts with same vendors, don't understand the mechanism of additional insured status, indemnification etc. and are actually more prone to claims and conflict with their LLC than the individual who does not own real estate in an LLC but understands these tools I mentioned.